We are very precise about financial details.
As property managers it is our solemn charge to reconcile every cent of income and each expense. All of us work diligently to make sure that every real estate investor has the documentation to see exactly where is income is going to and coming from. To accomplish this duty we employ one of the most powerful programs in our profession: Rent Manager.
We usually process and deposit rents on the same day they are received. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that shows the rent received as well as any expenses which we have paid on the landlord's behalf. The monthly statement is also available electronically. The statement will describe what reserves we are holding on behalf of the rental property owner.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we mail the rental property owners, and to the IRS, a 1099 stating the income for the rental property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Chapel Hill Rental Management Resources
Basics
Elementary information regarding property management in Chapel Hill.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
List your property to rent to find a reliable tenant in Chapel Hill fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
A breakdown of fees associated with property management services in Chapel Hill
Vetting
How Nesbitt Realty vets tenants for landlords.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
Clients
Who uses Nesbitt Realty management services?
Your investment in real estate is a business like any other. As a landlord, you have expenses, income and with perseverance, you also have the expectation of financial reward.
In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point. A property management company takes all the hassle out of rental management.
Should you know more about this area?
Our Guide to Real Estate is a helpful tool for anyone who wants to review important real estate information about Chapel Hill and surrounding communities. The Guide to Real Estate compiles data regarding what has sold and what is for sale, and some interesting facts that you might not be aware of. Also, our Guide has some aspects of residing in Chapel Hill. Of course, all of this is helpful for buyers and sellers, but rental investors and renters will likely also find this information to be very enlightening.